Common use of COMPENSATION UPON RETIREMENT Clause in Contracts

COMPENSATION UPON RETIREMENT. In the event that the Executive’s employment terminates by reason of retirement, the provisions of this Section 7 shall determine the Executive’s entitlement to compensation and benefits in connection with and subsequent to such termination. If the Executive’s employment terminates as a result of his retirement on or after attaining retirement age, as defined by the policy in place in the Executive’s country of employment in the year of his retirement, the Company shall pay to the Executive, within 30 days after the date on which his employment terminates as a result of this retirement (the “Retirement Date”): (i) all accrued Base Salary and benefits through the Retirement Date (the “Accrued Benefits”), and (ii) the Average Incentive Amount, prorated based on the number of days elapsed in the current fiscal year as of the Retirement Date, and (iii) any other payments or benefits that may be approved by the Board in its sole discretion; provided that, if at the time of such termination, any payments required under this Section 7 are determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Executive is a “specified employee” as defined in Section 409A, such payments shall be paid to the Executive on the first business day of the seventh month after the Retirement Date. All equity awards will be treated in accordance with the terms set forth in the Plans and Equity Award Agreements.

COMPENSATION UPON RETIREMENT. In the event that the Executive’s employment terminates by reason of retirement, the provisions of this Section 7 shall determine the Executive’s entitlement to compensation and benefits in connection with and subsequent to such termination. If the Executive’s employment terminates as a result of his retirement on or after attaining retirement age, as defined by the policy in place in the Executive’s country of employment in the year of his retirement, the Company shall pay to the Executive, within 30 days after the date on which his employment terminates as a result of this his retirement (the “Retirement Date”): (i) all accrued Base Salary and benefits through the Retirement Date (the “Accrued Benefits”)Date, and (ii) the Average Incentive Amount, prorated based on the number of days elapsed in the current fiscal year as of the Retirement Date, and (iii) any other payments or benefits that may be approved by the Board in its sole discretion; provided that, if at the time of such termination, any payments required under this Section 7 are determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Executive is a “specified employee” as defined in Section 409A, such payments shall be paid to the Executive on the first business day of the seventh month after the Retirement Date. All equity awards will be treated in accordance with the terms set forth in the Plans and Equity Award Agreements.

COMPENSATION UPON RETIREMENT. In the event that the Executive’s employment terminates by reason of retirement, the provisions of this Section 7 shall determine the Executive’s entitlement to compensation and benefits in connection with and subsequent to such termination. If the Executive’s employment terminates as a result of his retirement on or after attaining retirement age, as defined by the policy in place in the Executive’s country of employment in the year of his retirement, the Company shall pay to the Executive, within 30 days after the date on which his employment terminates as a result Date of this retirement (the “Retirement Date”): Termination: (i) all accrued Base Salary and benefits through the Retirement Date of Termination (the “Accrued Benefits”), and (ii) and the Average Incentive Amount, prorated based on the number of days elapsed in the current fiscal year as of the Retirement DateDate of Termination, and (iii) any other payments or benefits that may be approved by the Board in its sole discretion; provided that, if at the time of such termination, any payments required under this Section 7 7(a) are determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Executive is a “specified employee” as defined in Section 409A, such payments shall be paid to the Executive on the first business day of the seventh month after the Retirement DateDate of Termination. All equity awards will be treated in accordance with the terms set forth in the Plans and Equity Award Agreements.

COMPENSATION UPON RETIREMENT. In the event that the Executive’s employment terminates by reason of retirement, the provisions of this Section 7 shall determine the Executive’s entitlement to compensation and benefits in connection with and subsequent to such termination. If the Executive’s employment terminates as a result of his her retirement on or after attaining retirement age, as defined by the policy in place in the Executive’s country of employment in the year of his her retirement, the Company shall pay to the Executive, within 30 days after the date on which his her employment terminates as a result of this retirement (the “Retirement Date”): (i) all accrued Base Salary and benefits through the Retirement Date (the “Accrued Benefits”), and (ii) the Average Incentive Amount, prorated based on the number of days elapsed in the current fiscal year as of the Retirement Date, and (iii) any other payments or benefits that may be approved by the Board in its sole discretion; provided that, if at the time of such termination, any payments required under this Section 7 are determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Executive is a “specified employee” as defined in Section 409A, such payments shall be paid to the Executive on the first business day of the seventh month after the Retirement Date. All equity awards will be treated in accordance with the terms set forth in the Plans and Equity Award Agreements.

COMPENSATION UPON RETIREMENT. In the event that the Executive’s employment terminates by reason of retirement, the provisions of this Section 7 shall determine the Executive’s entitlement to compensation and benefits in connection with and subsequent to such termination. If the Executive’s employment terminates as a result of his retirement on or after attaining retirement age, as defined by the policy in place in the Executive’s country of employment in the year of his retirement, the Company shall pay to the Executive, within 30 days after the date on which his employment terminates as a result Date of this retirement (the “Retirement Date”): Termination: (i) all accrued Base Salary and benefits through the Retirement Date of Termination (the “Accrued Benefits”), and (ii) and the Average Incentive Amount, prorated based on the number of days elapsed in the current fiscal year as of the Retirement DateDate of Termination, and (iii) any other payments or benefits that may be approved by the Board in its sole discretion; provided that, if at the time of such termination, any payments required under this Section 7 are determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Executive is a “specified employee” as defined in Section 409A, such payments shall be paid to the Executive on the first business day of the seventh month after the Retirement DateDate of Termination. All equity awards will be treated in accordance with the terms set forth in the Plans and Equity Award Agreements.